Major Drilling Group International (TSE:MDI) Shares Cross Above 200-Day Moving Average of $8.32

Major Drilling Group International Inc. (TSE:MDI)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.32 and traded as high as C$9.77. Major Drilling Group International shares last traded at C$9.68, with a volume of 117,905 shares trading hands.

Analyst Ratings Changes

Separately, TD Securities decreased their target price on shares of Major Drilling Group International from C$14.50 to C$14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th.

Major Drilling Group International Price Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.92 and a current ratio of 3.75. The stock’s 50 day simple moving average is C$8.52 and its two-hundred day simple moving average is C$8.32. The firm has a market capitalization of C$791.73 million, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.45 and a beta of 1.66.

Major Drilling Group International (TSE:MDI) last announced its quarterly earnings results on Thursday, February 29th. The company reported C($0.03) earnings per share (EPS) for the quarter. Major Drilling Group International had a return on equity of 14.08% and a net margin of 8.84%. The firm had revenue of C$132.82 million for the quarter. On average, sell-side analysts forecast that Major Drilling Group International Inc. will post 0.7854114 EPS for the current year.

About Major Drilling Group International

Major Drilling Group International Inc provides contract drilling services for mining and mineral exploration companies. The company offers a suite of drilling services, including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive, longhole drilling, surface drill and blast, and related mining services.